AppLovin Co. (NASDAQ:APP) Holdings Lifted by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in AppLovin Co. (NASDAQ:APP) by 36.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,120 shares of the company’s stock after acquiring an additional 4,822 shares during the quarter. Cerity Partners LLC’s holdings in AppLovin were worth $2,366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of APP. WCM Investment Management LLC lifted its holdings in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Lone Pine Capital LLC lifted its stake in AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of AppLovin in the second quarter worth about $290,655,000. 1832 Asset Management L.P. increased its position in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AppLovin by 27.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock valued at $124,372,000 after acquiring an additional 322,563 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Up 2.5 %

Shares of APP stock opened at $336.75 on Monday. The company has a market capitalization of $113.01 billion, a price-to-earnings ratio of 102.05, a PEG ratio of 4.15 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s 50 day simple moving average is $201.91 and its 200 day simple moving average is $126.00. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $344.77.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. As a group, research analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of several research analyst reports. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group lifted their price target on AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Bank of America lifted their target price on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler assumed coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Oppenheimer boosted their price objective on shares of AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This represents a 12.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. The trade was a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 884,395 shares of company stock valued at $243,101,629 in the last quarter. Insiders own 14.69% of the company’s stock.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.